AUDCHF Traders Eying 0.6000

Wed 5th April 2023 : Daily Forex Price Action

Today we’re looking at Trading Setups in:

• AUDCHF
• GBPAUD (Covered in Video)

Today we’re looking at Trading Setups in: AUDCHF & GBPAUD (Covered in Video)

AUD continues to stick to the weak side of the tables offering us selling opportunities.

CHF has come onto the tables as one of the strongest currencies.

AUDCHF could continue to trade lower into key supporting levels.

Price is in a strong downward trend and has recently rejected the resistance level of 0.6200.

Sellers could be looking to target the lows and support of 0.6000.

We have identified minor resistance zones at 0.6100 and 0.6150.

If sellers re-enter at these points we could look for selling opportunities. 

Technical Observations

• The CHF is S2 and AUD is W1 on the day traders table.
• Price has rejected the key resistance at 0.6200.
• Sellers could target key support at 0.6000.
• Traders could look for price to retest minor resistance zones at 0.6100 or 0.6150.
• These levels could offer selling opportunities.